Being a society treasurer - Society bank account, how does it all work?

I have recently been given the role of treasurer for my university society im confused how it all works. I originally assumed it was just being in charge of the money box but now im being told will be in charge of the bank account.How does this work? They said it is still in the name of the commitee from a few years ago which confuses me. I'm going into my third year so graduate next year and don't want to be tied to the account when i graduate and the next comitee take over?

Can someone please explain to me how it works and if i would be liable/connected to the bank account after i graduate as really particular about banking. Wouldnt even agree to our flat having a joint account for bills

Reply 1

username471863

Original post by ~ Aquamarine ~

Don't worry, you won't be connected to the bank account after you graduate nor are you essentially handling an additional bank account.

Basically you will be dealing with all of the society finances. This will include the grant that the SU gives you at the start of the year, the money collected from new members joining your society and possibly fundraising and sponsorships, the other grants the SU will provide throughout the year (you must calculate the costs of all of your upcoming events and present this during your grant applications). The SU will likely reimburse the costs via cheque, but I have never heard of separate bank accounts being opened for each society but there is an SU bank account for all societies (which they will be dealing with, not you).

Furthermore there are compulsory workshops which all committee members must attend.